Bolivia

The Bolivian government generally allows foreign direct investment. An investment promotion law adopted in 2014 guarantees equal treatment for national and foreign firms, but stipulates that public investment has priority over private investment (both national and foreign). Under the law, the Bolivian government will determine which sectors require private investment. Bolivia abrogated its Bilateral Investment Treaties with the United States and multiple other countries in 2012. From 2008 to 2016, the Bolivian government nationalized numerous companies that had been privatized in the 1990s. U.S. foreign direct investment in Bolivia is about $430 million, mainly in the oil and gas and manufacturing sectors. Weak judicial recourse, corruption, and unclear investment incentives make investment in Bolivia challenging. The U.S. – Bolivia Air Transport Agreement from 1947 remains in force with multiple amendments. Throughout the last decade, Bolivia has experienced positive economic growth, but it remains one of the poorest countries in the Western Hemisphere.